ESMA has asked member states to urge their respective bodies to carry out the functions and duties outlined in MiCA at the earliest.
all stakeholders in the member states of the European Union to pull up their socks before the Markets in Crypto Assets regulation takes effect next year.a letter to the Economic and Financial Affairs Council . She asked that member states urge their respective authorities to carry out the functions and duties outlined in MiCA at the earliest.
Furthermore, Ross asked members to consider limiting the transitional period from 18 months to 12 months, given that they choose to offer it to crypto service providers in their jurisdictions. The regulator urged crypto service providers to begin planning for a smooth transition at the earliest. They should also ensure their clients understand the regulatory status of their crypto offerings.
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